Pittenger & Anderson Inc. Purchases 336 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Pittenger & Anderson Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,922 shares of the company's stock after acquiring an additional 336 shares during the quarter. Pittenger & Anderson Inc.'s holdings in MercadoLibre were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. increased its position in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Swedbank AB boosted its stake in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after purchasing an additional 73,336 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of MercadoLibre by 1.7% in the third quarter. Bleakley Financial Group LLC now owns 1,064 shares of the company's stock valued at $2,183,000 after purchasing an additional 18 shares during the period. Stratos Wealth Advisors LLC boosted its stake in shares of MercadoLibre by 14.7% in the third quarter. Stratos Wealth Advisors LLC now owns 273 shares of the company's stock valued at $562,000 after purchasing an additional 35 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in MercadoLibre in the third quarter valued at $345,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. Finally, Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $2,244.69.

MercadoLibre Stock Performance

NASDAQ MELI traded up $34.68 on Thursday, reaching $2,110.47. The stock had a trading volume of 727,004 shares, compared to its average volume of 344,303. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a fifty day moving average of $1,853.78 and a two-hundred day moving average of $1,951.83. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a market cap of $107.00 billion, a P/E ratio of 74.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 32.98 EPS for the current year.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.